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Va. hotel revenues still lagging pre-pandemic levels
Virginia hotel revenues for June 2021 were down 22% compared with pre-pandemic levels in June 2019, according to newly released data from STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, rooms sold decreased by 14%. The average daily rate (ADR) paid for hotel rooms […]
TowneBank acquires Tennessee cabin rental company
Suffolk-based TowneBank acquired Tennessee-based vacation property rental company Venture Resorts Inc. on July 1, the bank announced Monday. Financial details of the transaction were not disclosed. “This is an exciting development for Towne Vacations,” Brian Skinner, president and CEO of Towne Financial Services Group, the d[...]
Northam appoints members to newly created cannabis boards
Virginia Gov. Ralph Northam has appointed members to three newly created oversight boards for the legalization of recreational marijuana, his office announced today. On July 1, Virginia’s adult-use cannabis legislation changes began going into effect. This year, the General Assembly legalized possession of up to one ounce [...]
Breeden Co. names three new executives
The Breeden Co., the Virginia Beach-based real estate firm, announced last week it has promoted two people to become vice presidents, as well as hiring a third person as a vice president. Brenda Karp, currently vice president of Breeden Realty, has been promoted to vice president of business development for the entire company, effective Oct. […]
Newport News hotel sold for $5.3 million
The Comfort Inn hotel at Newport News’ Patrick Henry Mall has been sold for $5.3 million, Grand Bay Advisors announced earlier in July. The 123-room property will still be operated as a Comfort Inn. Virginia Beach-based Omaarav Hospitality purchased the property from Landmark Hotel Group, which is also based in Virginia Beach. Grand Bay Advisors, […]
Sentara Healthcare hires medical director of health equity
Sentara Healthcare has hired Dr. Keith H. Newby as an independent contractor to serve as the system’s medical director of health equity. He will work on expanding plans and initiatives that improve access to health care in underserved neighborhoods, as well as on plans that promote higher COVID-19 vaccination rates among p[...]
Va. Beach KFC building sold for $2.4M
A KFC restaurant in Virginia Beach will become a Cook Out following its $2.44 million purchase by Cook Out – Virginia Beach Inc., Cushman & Wakefield | Thalhimer announced last week. The 2,745-square-foot building at 1010 Independence Blvd. was sold by Cabrillo Mobile Lodge LLC, represented by Dean G. Martin of Thalhim[...]
Hampton corporate campus sells for $1.95 million
Watson’s Petroleum Equipment Service Real Estate LLC, an entity connected with the petroleum service based in Hampton, purchased a 26,214-square-foot office, manufacturing and warehouse campus on 4.45 acres for $1.95 million, Cushman & Wakefield | Thalhimer announced this week. The property at 3130-3301 NASA Drive in H[...]
Virginia Pediatric Eye Center office sells for $1.3M
Virginia Pediatric Eye Center’s Chesapeake office has been sold for $1.3 million, Cushman & Wakefield | Thalhimer announced this week. The 6,586-square-foot building at 1564 Crossways Blvd. was sold by HPR LLC to VPEC Ches Medical LLC, an entity connected to the medical practice. Rob Wright of Cushman & Wakefield |[...]
Huntington Ingalls Industries to acquire Alion in $1.65B deal
Newport News-based Fortune 500 military shipbuilder Huntington Ingalls Industries will acquire McLean-based defense contractor Alion Science and Technology Corp. from Veritas Capital in a $1.65 billion, all-cash deal, HII announced in a news release Tuesday. The deal is expected to close by the end of this year, with Alion becom[...]
Federal approval process starts for Va. Beach wind farm
Friday will mark an important milestone for Dominion Energy Inc.’s wind energy plans, as the federal Bureau of Ocean Energy Management begins its two-year permitting and environmental review of the 2.6-gigawatt Coastal Virginia Offshore Wind project. That’s the next step before construction begins in 2024, Dominion s[...]
Sentara recruits local, diverse suppliers
With the COVID-19 pandemic exposing weaknesses in the global supply chain, Sentara Healthcare is ramping up efforts to diversify its vendors, committing executive leadership and resources to growing partnerships with local and regional suppliers, as well as companies owned by women, veterans and people of color. “We are being [...]
